Price reductions are more than important... many times, they are a shortcut to a sold home. Now, that's important!
Why are they important?
1) Because your home needs to be priced at fair market value.
If your home is priced too high, it's going to take a long time to sell, and there's a good chance it will NEVER sell. Maybe you're already priced correctly. But if you are, and your property isn't selling, then you need to figure out what is the other reason your property isn't selling? And sometimes, that reason can be overlooked by buyers if your property is priced a little below fair market value.
2) Sometimes doing a "token" price reduction is a good idea, even if it's slight.
This is good because it shows buyers you are motivated to sell, and you are willing to work with buyers in terms of price (and maybe other areas as well). Plus, this gives your Realtor a reason to send out more marketing pieces and emails announcing the price reduction, and therefore, RE-announcing your property for sale.
So, if you're looking to sell your property, and it's been over 30 days with no sale, no offers, nothing - it's possibly time for a price reduction. Send me an email if you have any questions. dchamilton@kw.com
Dan Hamilton
Keller Williams Greater Columbus Realty
www.HamiltonHomesGroup.com
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